Toxic Tier This tier advertises its extreme risk level by having a skull-and-crossbones symbol. There is only one category in this group:

Caveat Emptor: The title says it all: "Buyer beware." The Caveat Emptor tier is described on the pink sheets website as consisting of "stocks that are the subject of unsolicited spam, questionable promotion, regulatory suspensions, disruptive corporate actions (including reverse mergers), or other public-interest concerns." These are companies that are either scams or not actual businesses. (To read about how pink sheet investing can go wrong, see Wham Bam Micro-Cap Scam.)